The U.S. dollar has fallen to a three-year low, and stocks are tumbling again today. Meanwhile, Donald weighed in to blame his tariff tantrums Federal Reserve Chair Jerome Powell, while casting a conspiracy theory involving “Sleepy Joe Biden” and Kamala Harris.
‘“Preemptive Cuts” in Interest Rates are being called for by many,” Lumpy wrote on Truth Social. “With Energy Costs way down, food prices (including Biden’s egg disaster!) substantially lower, and most other “things” trending down, there is virtually No Inflation.”
Fact check: Excluding food and energy, prices rose 2.8% in March. According to a study from SmartAsset, “While prices of fruits, vegetables and dairy products either increased or decreased depending on the location, eggs, meat and poultry soared almost unanimously, reaching over 9% or higher than just a year before — tripling the general rate of inflation.”
“With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates,” It added. “NOW. Europe has already “lowered” seven times. Powell has always been “To Late,” except when it came to the Election period when he lowered in order to help Sleepy Joe Biden, later Kamala, get elected. How did that work out?”
To late, eh? The Stable Genius™ is referring to the European Central Bank (ECB) lowering interest rates for the seventh time since last June. However, the ECB took this action in response to concerns about trade tensions and their potential impact on the economic recovery. It’s because of Donald’s tariffs.
Powell said last week that inflation is likely to go up as the cost of US tariffs makes its way to consumers.
BlackRock CEO Larry Fink told CNBC that he believes the U.S. economy has weakened to the point where growth may turn negative.
“I think we’re very close, if not in, a recession now,” Fink said. He’s right.
“The Street does not care anymore about words and ‘deal progress’ comments,” Wedbush analysts said on Sunday. “The economic damage done from this Trump back and forth tariff plan has likely pushed the economy towards a recession path already as cap ex [has been] halted across the board, hiring plans paused, price increase worries, and supply chain shock/chaos has sparked a level of uncertainty in the US not seen since Covid days.”
We’re going to have to hear his whining for over 3 1/2 years more. He will never stop. He’s only been in office for a couple of months, and look what he’s done to the global economy already.